ITEM 119-1013-R0503 Authorization to Finance with the Montana Board of Investments for the
Construction of Research Lab Facilities; The University of
Montana-Missoula

THAT: Consistent
with Board of Regents Policy 950.1, Municipal Finance Consolidation Act
Participation, the Board of Regents authorizes The University of
Montana-Missoula to finance $1,000,000 through the Montana Board of Investments
Intercap Loan Program.

EXPLANATION: Board of Regents Item 118-1002-R0103 authorized The
University of Montana-Missoula to construct a Research Lab Facility at a
project cost of $1,500,000. The
facility will serve as research space for the Division of Biological Sciences
and the School of Forestry and is funded in total from indirect cost funds
generated from grant activities.
Project funding is as follows:

$1,000,000 Intercap Loan to be repaid from indirect cost
funds over a period of ten years. Annual debt service ($130,000)